A report by The Chronicle of Higher Education looks at the pay of public, university presidents across the United States.
The Chronicle looked at 238 presidents at 220 public universities and systems in the United States. Being a public university means it receives money from the government to function. Since a public university receives government money, then they are required by law to show how money is used (also known as transparency). Some universities are private, meaning they receive no money from the government. For now, we’re looking at the presidents at public universities.
According to The Chronicle, the median salary for presidents who served a full year is $428,250 and two presidents earned more than $1 million.
Image provided by The Chronicle of Higher Education
Why should this matter? We read in the Akron Beacon Journal, according to a study published in 2014 by the Institute for Policy Studies found that the student debt was worse at state schools (public schools) with the highest-paid presidents and that administrative spending outpaced scholarship spending by more than 2 to 1 at those institutions.